Pitfalls of Not Having Health Insurance
“I don’t have health insurance. Who cares? What’s the worst that could happen?”
Famous last words. How many times have we heard that from movie characters before the worst actually happens? With the rise of hospital fees and other medical expenses, health insurance plans are needed now more than ever. Unfortunately, many people consider it as an unnecessary expense until they find themselves needing it.
To help you understand its importance, here are the “worst things” that could happen to you when you don’t have a health insurance plan.
1.Absence of Medical Services
Unfortunately, it’s true that health care providers can opt not to provide medical services if the patient doesn’t have insurance. Only emergency departments are legally bound to provide care regardless of whether or not patients have health care plans.
If you or a loved one ever find yourself in a situation wherein you’re refused care because of your lack of health insurance it can lead to worse ailments, and even worse – death.
Without health insurance, anyone is one accident or health issue away from sinking into debt. Unfortunately, this happens more often than you’d think.
A broken leg can cost thousands of dollars out-of-pocket without insurance. If your family can’t afford it, they’d try to take out a loan and if they can’t pay for that loan, interest accrues and leaves you and your family in a never-ending cycle.
If you’re lucky enough not to file for bankruptcy, having a large medical debt will still cripple you financially. You won’t be able to save or invest for your future.
3.Strained Family Ties
If you don’t have health insurance and you’re out of the job due to your sickness or injury, the burden of paying your medical bills will be transferred to your family. Furthermore, if you’re the main source of your family’s income, this will cripple your household even more financially.
This financial strain can cost emotional strain within the family. Bitterness over the sudden weight of responsibility might brew underneath due to the lack of preparations.
If you have health insurance, an accident or an illness will interfere less with your family’s expenses and lives. Your family savings will be spared and you’ll be taken care of without guilt.
4.Worse Health Situation
Most medical conditions can be cured, if not managed if detected early. However, preventive care is usually not availed of without health insurance. Regular check-ups and laboratory fees can add up to an expensive medical bill.
This leads to people avoiding the doctor for a long time despite their symptoms. In the end, they only find out about their true health condition when it’s already progressed to late stages or have turned into full-blown critical problems.
Critical ailments are more expensive to treat. The prescription drugs, surgeries, and treatments usually cost more the more difficult a disease or a situation is to treat and solve. In the end, it costs them more – financially and emotionally.
In conclusion, it’s best not to tempt fate by asking “what’s the worst that could happen?” when you go without health insurance. Healthcare is expensive – even with insurance but those who don’t have coverage are at a much higher risk and disadvantage.
It can lead you to the inability to seek treatment, bankruptcy, and financial restraints that you’ll end up paying years down the road.
While it can be daunting to have an additional expense to pay in your monthly expenses, think of it as an investment rather than an expense. Your future self will thank you.
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